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Aug. 20, 2019, 6:14 a.m. EDT

Home Depot warns lumber prices, possible tariffs, to weigh on sales

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By Steve Goldstein

HD

Home Depot /zigman2/quotes/208081807/lastsale HD -2.39% warned that lumber price deflation, as well as the impact of possible tariffs, will impact its fiscal year sales. The home improvement giant said second-quarter net income fell slightly to $3.48 billion, or $3.17 a share, as sales rose 1.2% to $30.84 billion and comparable-store sales rose 3%. Analysts polled by FactSet expected earnings of $3.09 a share on sales of $31 billion. While it still earnings rising 3.1% for the year, it now says annual sales will rise 2.3% and comparable-store sales will rise 4%. Analysts had forecast EPS growth of 2.1% on sales growth of 2.8%.

/zigman2/quotes/208081807/lastsale
US : U.S.: NYSE
$ 190.55
-4.66 -2.39%
Volume: 7.12M
March 27, 2020 6:30p
P/E Ratio
18.59
Dividend Yield
3.15%
Market Cap
$207.86 billion
Rev. per Employee
$261,993
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